MetaTrader 4 Candlesticks Gold Charts
A XAUUSD Trading chart is a graphical representation of gold price movement of a xauusd instrument over a given period of time.
Drawn on a grid and the user is at liberty to choose which xauusd chart time frame they want to trade with. The xauusd trader may choose to use hourly xauusd charts, daily xauusd charts or even 1 minute xauusd chart time frames.
To draw xauusd charts, three methods are used. The methods used to draw the gold charts defines the type of xauusd chart.
The three types of xauusd charts are: - Candlesticks Gold Charts - Bar Gold Charts - Line Gold Charts
- Line charts
- Bar charts
- Candlesticks xauusd charts- Most popular
MetaTrader 4 Line Gold Charts
A single line is drawn from one closing gold price to the next, forming a continuous line.
This type of xauusd chart provides very little information on the chart and is therefore not very popular among gold traders. In fact this type of xauusd chart is rarely used.
Line Gold Chart in Gold - This type of xauusd chart leaves out important information about gold price movement. Information such as opening, high and low point of the gold price which are not represented on the graph.
This makes this type of xauusd line xauusd chart to be considered sketchy by xauusd technical analysts.
The xauusd chart below shows an example of a xauusd line xauusd chart.
MetaTrader 4 Bar Gold Charts
XAUUSD Trading Bar Gold Charts - This type of xauusd chart shows the opening, closing, the high and the low, for a particular gold price interval and is represented by bars that look like the ones drawn below - hence its name bar xauusd charts
- Bar Gold Charts - bar xauusd chart has a vertical bar showing the total gold price movement.
- Left horizontal bar the opening
- Right horizontal bar the closing
- High and low denoted by the highest and lowest point
However, these xauusd bar xauusd charts are not very easy to work with, especially when they are not magnified. It becomes very hard to interpret the bar xauusd charts with ease when trading the gold market thus making them not very popular among gold traders.
A Bar chart that is not magnified makes it hard to view the opening and closing gold price as illustrated by this example:
MetaTrader 4 Candlesticks Gold Charts
XAUUSD Candlesticks Gold Charts - This is the most widely used type of xauusd charts, they resemble candles, thus their name - candlesticks xauusd charts.
Candlesticks charts shows the opening, closing, the high and the low of a particular gold price interval.
The range between the open gold price and the close gold price is called the body of the candlestick.
XAUUSD Trading candlesticks xauusd charts is the most popular type of xauusd charts among online xauusd traders because it is the easiest to interpret when trading the gold market. XAUUSD Trading candlestick xauusd charts also gives a lot of information about the gold price movement. This makes xauusd candlesticks charts the most widely used type of charting in XAUUSD.
XAUUSD Candlesticks XAUUSD Charts
Below is an example of candlesticks xauusd charts. To learn and know more about xauusd candlesticks charts, read this topic: Technical Analysis of Japanese XAUUSD Candlesticks Patterns in XAUUSD.
How to Select These Gold Chart Types on MetaTrader 4
To draw any of these types of xauusd charts on the MetaTrader 4 XAUUSD Platform a xauusd trader can use the buttons below found on this MT4 gold platform.
Drawing Gold Charts on MetaTrader 4
- To Select a Bar Gold Chart Click the Bar Button
- To Select a Candlesticks Gold Chart Click the Candlestick Button
- To Select a Line Gold Charts - Click the Line Button
